{"product_id":"revenue-management-for-the-hospitality-industry-isbn-9781119790778","title":"Revenue Management for the Hospitality Industry","description":"\u003cb\u003eREVENUE MANAGEMENT FOR THE HOSPITALITY INDUSTRY\u003c\/b\u003e \u003cp\u003e\u003cb\u003eExplore intermediate and advanced topics in the field of revenue management with this up-to-date guide\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIn the newly revised second edition of \u003ci\u003eRevenue Management for the Hospitality Industry,\u003c\/i\u003e an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. \u003c\/p\u003e\u003cp\u003eThe authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. \u003c\/p\u003e\u003cp\u003eWritten for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eA brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data security\u003c\/li\u003e \u003cli\u003eIn-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIs\u003c\/li\u003e \u003cli\u003eMajor changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises.\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eAn indispensable resource for students taking courses in hospitality management or business administration,\u003ci\u003e Revenue Management for the Hospitality Industry, Second Edition\u003c\/i\u003e is also ideal for managers and executives in the hospitality industry. \u003c\/p\u003e\u003cp\u003ePreface ix\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Revenue Management Principles 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Introduction to Revenue Management 2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 2\u003c\/p\u003e \u003cp\u003eThe Purpose of Business 4\u003c\/p\u003e \u003cp\u003eThe Purpose of Revenue Management 9\u003c\/p\u003e \u003cp\u003eThe Purpose and Design of This Book 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Strategic Pricing 28\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Price? 28\u003c\/p\u003e \u003cp\u003eThe Importance of Price in the 4 Ps of the Marketing Mix 36\u003c\/p\u003e \u003cp\u003eThe Role of Supply and Demand in Pricing 39\u003c\/p\u003e \u003cp\u003eThe Role of Costs in Pricing 43\u003c\/p\u003e \u003cp\u003eImplementing Strategic Pricing 48\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Value 54\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Role of Value in Pricing 54\u003c\/p\u003e \u003cp\u003eThe Relationship Between Quality and Price 60\u003c\/p\u003e \u003cp\u003eThe Relationship Between Service and Price 62\u003c\/p\u003e \u003cp\u003eThe Link Between Quality, Service, and Price 63\u003c\/p\u003e \u003cp\u003eThe Art and Science of Strategic Pricing 67\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Differential Pricing 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrinciples of Managing Revenue 74\u003c\/p\u003e \u003cp\u003eDifferential Pricing 75\u003c\/p\u003e \u003cp\u003eLimits to Differential Pricing 80\u003c\/p\u003e \u003cp\u003eApplying Differential Pricing 83\u003c\/p\u003e \u003cp\u003eRevenue Management or Revenue Optimization? 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Revenue Manager’s Role 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Revenue Manager in the Hospitality Industry 105\u003c\/p\u003e \u003cp\u003eLegal Aspects of Revenue Management 109\u003c\/p\u003e \u003cp\u003eEthical Aspects of Revenue Management 113\u003c\/p\u003e \u003cp\u003eThe Revenue Manager Position 119\u003c\/p\u003e \u003cp\u003eThe Revenue Management Team 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Revenue Management For Hoteliers 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Forecasting Demand 134\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Importance of Demand Forecasting 134\u003c\/p\u003e \u003cp\u003eHistorical Data 136\u003c\/p\u003e \u003cp\u003eCurrent Data 143\u003c\/p\u003e \u003cp\u003eFuture Data 152\u003c\/p\u003e \u003cp\u003eDemand Forecasts and Strategic Pricing 158\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Inventory and Price Management 172\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Marketing Mix Revisited 173\u003c\/p\u003e \u003cp\u003eInventory Management 173\u003c\/p\u003e \u003cp\u003eCharacterizing Rooms for Optimum Inventory Management 176\u003c\/p\u003e \u003cp\u003eDesignating Unique Room Codes 177\u003c\/p\u003e \u003cp\u003eClassifying Guests by Market Segment 178\u003c\/p\u003e \u003cp\u003eOverbooking as an Inventory Management Strategy 187\u003c\/p\u003e \u003cp\u003ePrice Management 192\u003c\/p\u003e \u003cp\u003eStay Restrictions 204\u003c\/p\u003e \u003cp\u003ePrinciples of Inventory and Price Management 206\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Distribution Channel Management 213\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManaging Distribution Channels 214\u003c\/p\u003e \u003cp\u003eNonelectronic Distribution Channels 222\u003c\/p\u003e \u003cp\u003eElectronic Distribution Channels 231\u003c\/p\u003e \u003cp\u003ePrinciples of Distribution Channel Management 248\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Data Analysis and Revenue Management 254\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eData-Driven Decision Making 255\u003c\/p\u003e \u003cp\u003eCategories of Technology Impacting the Hospitality Industry 271\u003c\/p\u003e \u003cp\u003eRevenue Management Strategies for Use in an Ever-Changing World 274\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Evaluation of Revenue Management Efforts in Lodging 288\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Lodging Revenue Paradox 289\u003c\/p\u003e \u003cp\u003eStr Reports 299\u003c\/p\u003e \u003cp\u003eCompetitive Set Analysis 304\u003c\/p\u003e \u003cp\u003eMarket Share Analysis 310\u003c\/p\u003e \u003cp\u003eAdditional Assessments 312\u003c\/p\u003e \u003cp\u003eCommon-Sense Revenue Optimization 317\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Revenue Management For Foodservice Operators 325\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Revenue Management for Food and Beverage Services 326\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTraditional Foodservice Pricing Methods 327\u003c\/p\u003e \u003cp\u003eThe Case Against Cost-Based Foodservice Pricing 335\u003c\/p\u003e \u003cp\u003eApplying Differential Pricing in Foodservices 339\u003c\/p\u003e \u003cp\u003eFactors Affecting Value Perceptions in Foodservices 346\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Evaluation of Revenue Management Efforts in Food and Beverage Services 362\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFood and Beverage Revenue Analysis 363\u003c\/p\u003e \u003cp\u003eExamination of Revenue Sources 364\u003c\/p\u003e \u003cp\u003eMeasurement of Revenue Change 370\u003c\/p\u003e \u003cp\u003eEvaluation of Revenue-Generating Efficiency 377\u003c\/p\u003e \u003cp\u003eThe Revenue Evaluation Process in Foodservices 386\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV Revenue Management In Action 395\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Specialized Applications of Revenue Management 396\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCharacteristics of Organizations Applying Revenue Management 397\u003c\/p\u003e \u003cp\u003eService Industries Applying Revenue Optimization Strategies 404\u003c\/p\u003e \u003cp\u003eSpecialized Revenue Management Duties 406\u003c\/p\u003e \u003cp\u003eRevenue Management and Destination Marketing 413\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Building Better Business 419\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKeys to Building Better Business 419\u003c\/p\u003e \u003cp\u003eBetter Business Issues in Moderate to Strong Markets 431\u003c\/p\u003e \u003cp\u003eBetter Business Issues in Weak or Distressed Markets 437\u003c\/p\u003e \u003cp\u003eIndex I-1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eDavid K. Hayes\u003c\/b\u003e has over 35 years of experience in hospitality management and education.He is the former Vice President of the Educational Institute of the American Hotel \u0026amp; Lodging Association (AHLEI) and is the author of several textbooks and dozens of articles in the field of hospitality management.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJoshua D. Hayes\u003c\/b\u003e has advanced degrees from Stanford and U.C. Davis and works as a data scientist in Silicon Valley specializing in applying advanced data management and analytics to drive business outcomes. \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePeggy A. Hayes\u003c\/b\u003e has served as a Project Manager at Panda Professionals Hospitality Management and Training (Panda Pros) for over 25 years. She is also Panda Pros’ Project Design and Copy Editor.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eExplore intermediate and advanced topics in the field of revenue management with this up-to-date guide\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIn the newly revised second edition of \u003ci\u003eRevenue Management for the Hospitality Industry,\u003c\/i\u003e an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. \u003c\/p\u003e\u003cp\u003eThe authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. \u003c\/p\u003e\u003cp\u003eWritten for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eA brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data security\u003c\/li\u003e \u003cli\u003eIn-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIs\u003c\/li\u003e \u003cli\u003eMajor changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises.\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eAn indispensable resource for students taking courses in hospitality management or business administration,\u003ci\u003e Revenue Management for the Hospitality Industry, Second Edition\u003c\/i\u003e is also ideal for managers and executives in the hospitality industry.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989958770917,"sku":"NP9781119790778","price":68.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119790778.jpg?v=1761786032","url":"https:\/\/k12savings.com\/es\/products\/revenue-management-for-the-hospitality-industry-isbn-9781119790778","provider":"K12savings","version":"1.0","type":"link"}